Overview of Buzzing Stocks in the Market: On October 1, indications from the Gift Nifty suggest that the Nifty index may open with a slight dip of approximately 6 points, leading to an almost flat opening for the Sensex and Nifty. This article highlights 10 stocks expected to experience significant movements in today’s trading session based on recent news developments.
1. Bank of Maharashtra
The public sector bank recently initiated its Qualified Institutions Placement (QIP) process on September 30. The floor price has been set at Rs 60.37 per share, with an anticipated issue size reaching Rs 3,500 crore, enhancing its capital structure.
2. NTPC
NTPCโs subsidiary, NTPC Green Energy, has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan. This strategic partnership aims to develop a substantial 25 GW capacity of renewable energy projects, which aligns with the government’s green energy objectives.
3. Tata Power Company
The company has entered into an MoU with the Rajasthan government to invest Rs 1.2 lakh crore in diverse sectors, including renewable energy, manufacturing, transmission, distribution, nuclear energy, rooftop installations, and electric vehicle (EV) charging infrastructure, reinforcing its commitment to sustainability and innovation.
4. Indian Railway Catering and Tourism Corporation (IRCTC)
IRCTC’s board has appointed Gaisingam Kabui, currently serving as GGM (Finance), as the new Chief Financial Officer (CFO) starting October 1. Additionally, Ravindra Nath Mishra is expected to take up the additional role of Director (Finance), indicating strategic leadership changes within the company.
5. Andhra Cements
The board has greenlit a draft letter of offer for a Rs 180 crore rights issue. The company has submitted this draft to SEBI, BSE, and the National Stock Exchange of India, marking a significant step in boosting its financial resilience.
6. India Glycols
India Glycols has expanded its production capabilities by adding 100 KLPD at its existing grain-based distillery in Kashipur, Uttarakhand, and an additional 180 KLPD at its bio-fuel ethanol plant. Further development is underway at its Gorakhpur facility, set to be completed by the fourth quarter of FY25, which will enhance its production of value-added chemical products.
7. Unichem Labs
Unichem Labs has entered into an asset purchase agreement with Bayshore Pharmaceuticals in the US. The deal, valued at $2.65 million for product approvals and $10 million for the marketing/distribution business, aims to strengthen Unichem’s presence in the US pharmaceutical market.
8. Piramal Pharma
Piramal Pharma Solutions, a subsidiary of Piramal Pharma, has announced an ambitious $80 million investment plan to enhance its sterile injectables facility located in Lexington, Kentucky. This expansion reflects the company’s commitment to innovating and optimizing its production capabilities.
9. Alphageo India
Alphageo India has secured a contract worth Rs 131.63 crore from Oil India for 2D seismic data acquisition in the Ganga-Punjab Basin. This contract is expected to bolster the companyโs operational portfolio within the oil and gas sector.
10. Blue Dart
Blue Dart, a leading logistics company, has announced a general price increase effective January 1, 2025. Customers can expect an average increase of 9 to 12 percent, although those who sign up between October 1 and December 31, 2024, will be exempt from this hike, providing an incentive for early contract renewal.
Conclusion: Investors should keep these stocks on their radar as they may witness significant movements based on recent developments. Monitoring these updates can aid in making informed investment decisions in the dynamic stock market environment.
